More evidence that we are in an expanding recession:
Theo Francis, "Big Firms Hit Brake as Profit Slumps," The Wall Street Journal, Feb 8, 2016, A1, A2:
"Overall, companies in the S&P Index are on track to report adjusted fourth-quarter profits down 4.1% from a year earlier, and sales down 3.5% according to Thompson Reuters. That would mark two consecutive quarters of shrinking earnings for the first time since 2009, and four straight quarters of falling sales." (A2)
Much of the falling earnings is attributable to the energy sector. Employees in this sector have wages that are typically higher than found in the retail sector. That means that the imploding energy sector is going to hurt retail sales, spreading job cuts further afield.
Capitalism will consume itself cutting labor, exacerbating over-production and fueling simmering social discord.
The government and intelligentsia will feebly call "all's well" in the pages of the mainstream news but falling tax revenue will hurt states, which will cut social welfare and education benefits still further.
Millennials will buy phones, rather than cars and houses and the economy will become increasingly polarized.
Of course, perhaps falling wages will be overshadowed by the looming enviro-apocalypses everywhere I look: Fukushima, Hanford, Porter Ranch, St. Louis landfill fire, WIPP in New Mexico, etc, etc. etc.
Taking the blue pill would be nice but where is there left to go where the matrix still maintains enough integrity for fantasy to prevail?